Ever since the Cambridge Analytica incident took place, the call to delete Facebook has been trending across social media. And a recent survey now suggests that because of that scandal, 1 out of every 10 Americans will be looking to part ways with Facebook for good.
The survey was conducted by the research group known as Techpinions and after asking 1,000 Americans whether they were going to delete their account, they found that roughly 9 percent had already done so.
Users claim that privacy concerns were one of the main reasons that they considered removing their account and closing it down for good.
About 17 percent of those surveyed had also responded in saying that they removed Facebook from their mobile phone. Some said that they didn’t think that there was anything that Facebook could try and do that would repair their reputation and build that trust again. However, Facebook has suggested that the calls to remove Facebook aren’t having that much of an impact on their business.
According to the vice president of global marketing solutions for the company, they don’t think the recent troubles are going to negatively impact the business in the long term. In other words, they don't think their overall business model and revenue scheme will be negatively impacted.
They also claim that many Facebook users still haven’t adjusted their privacy settings despite the recent headlines.
And since the news about Cambridge Analytica has surfaced, it has been reported that the company lost billions in market value as a result.
However, many financial analysts have suggested that the value was unfairly dragged down due to the scandal, that the market was overreacting, and that it was likely to eventually make a comeback.
Some marketing firms and advertising agencies have suggested that as more time passes that people will forget about the privacy issues and they predict that within just a few weeks time that perhaps people won’t care anymore about the issue. That’s because, they suggest, people will prefer to trade their personal information because they like to see relevant ads on their devices.
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Sources:
http://fortune.com/2018/04/12/delete-facebook-americans-privacy/
http://fortune.com/2018/04/13/facebook-cambridge-analytica-data-business/
http://business.financialpost.com/technology/u-s-ftc-investigating-facebooks-privacy-practices
https://www.cantechletter.com/2018/04/facebook-stock-is-looking-attractive-scotia-wealth-management-says/
http://money.cnn.com/2018/03/21/investing/facebook-stock/index.html
https://www.forbes.com/sites/angelauyeung/2018/04/10/zuckerberg-billions-richer-facebook-stock-capitol-hill-congressional-hearing/#182e835e7810
https://www.fool.com/investing/2018/03/25/can-facebook-stock-bounce-back-after-last-weeks-14.aspx
https://www.cnbc.com/2018/04/12/marketing-consultants-agencies-people-will-forget-about-data-privacy.html
https://www.theverge.com/2018/4/10/17165130/facebook-cambridge-analytica-scandal